Ethereum Stuck in Tight Consolidation — Market Talk

Much like bitcoin, ethereum has been locked in range-bound trading for much of the summer, but the range is thinning, on either side of $1,900. "It remains below the 200-day moving average, while resistance near $1,950 is still intact," says Bret Kenwell of eToro in a note. "Active traders may now be waiting for a break from this tightening range, with bulls seeking an upside breakout and bears watching for support to fail." Ethereum is down 0.3% to $1,899 currently, while bitcoin inches 0.1% lower to $64,281. Other major cryptocurrencies are mixed. ([email protected])